Spirit Airlines Cuts 200 Jobs as Part of Bankruptcy Restructuring

The budget carrier aims to reduce annual costs by $80 million and emerge from Chapter 11 bankruptcy by the end of the first quarter.

Spirit Airlines is laying off approximately 200 employees across various departments as part of a cost-cutting initiative.
The layoffs align with the airline's efforts to 'rightsize' its organization to match its reduced fleet size and operational capacity.
The company filed for Chapter 11 bankruptcy in November after significant financial challenges, including $2.2 billion in pandemic-related losses since 2020.
Failed merger attempts with JetBlue and Frontier Airlines, alongside increased competition and operational costs, contributed to Spirit's financial struggles.
Spirit expects to complete its bankruptcy restructuring and emerge from Chapter 11 by the end of the first quarter of 2025.